Being a responsible adult sucks. It doubly sucks if on one hand you have to deal with teenagers with attitude at the same time you are caring for a demanding parent.

With both children and parents tugging at you, is there any wonder why so many people who are in the “sandwich” years suffer from depression.

A recent article from the Oxford University Press, “How will America pay for long-term care?,” explains that 80% of the care that parents with Long Term Care needs will get it from friends or family. Most of this “unskilled” care is not reimbursed.

Unfortunately, children who are stuck in the tug-of-war between parents and kids often have to worry about money. In many families, both the husband and wife are employed outside of the home. Their job is often the only escape they get from the demands of caring for children and parents. They are free to forget their problems for 8 hours a day. The extra money does not hurt any.

When a parent needs Long Term Care, someone has to be available. Careing for a parent may include driving your parent to his doctor’s appointments, helping him eat, bathe and keep his home organized. Caregiving can become a full-time job if you are not careful.

When caregiving becomes a full-time job, your health can be affected adversely.

Long Term Care reimbursement policies will not pay you for your time, as a child, but it will pay for you to hire a trained professional to do provide the same, or better, level of care for your parent during the day. Instead of having to take time away from work to care for your ailing parent, your job can again become your oasis from the stresses of life.

INDEMNITY POLICIES

Indemnity policies will pay a level of cash each month when your parent is “on claim.” Your parent can use his policy to either pay for a professional aide or reimburse you for the time you have to take off from work. It would not remove all the stress from your life but it would eliminate your concerns over money.

“COMBINATION” POLICIES

Most of the policies with which I work have the characteristics of both Reimbursement and Indemnity policies. They pay for “skilled” care, like nursing homes, assisted living facilities, adult day-care and having a registered nurse visit on a regular basis.

When there is no need for professional Long Term Care services, these policies pay a pre-determined amount of cash that can be used as the insured sees fit. In other words, it provides the money that is necessary for your parent to reimburse you for your time.

Long Term Care insurance is just money. It will not keep your folks from getting feeble in their old age. That is a fate that awaits many of us as we age. It will, however, give you the money that will help you cope with the pulls of both parents and children. If you are interested in learning more about Long Term Care insurance, use the form to the right to contact The Insurance Barn. We can email more information to you.